XELA Exela Technologies Inc

Exela Technologies, Inc. (“Exela”) (NASDAQ: XELA), a location-agnostic global business process automation leader (“BPA”) across numerous industries, is proud to celebrate the achievements of its employees who are receiving certificates of appreciation and achievement from the U.S. Department of Veterans Affairs (“VA”), Office of Business Process Integration (“OBPI”). The employees will be recognized for their contributions to the state of Kentucky in a ceremony on March 21 to be attended by U.S. Congressman Hal Rogers, R-Ky., Mount Vernon, Kentucky Mayor Mike Bryant, and staff members of Congressman Andy Barr R-Ky.

The VA is recognizing the work performed by Exela’s employees in assisting the transportation and accounting of 1.7 million veterans’ files and many millions of pages of important veterans’ benefits claims information, in a secure and accurate environment.

The name of the project, File Bank Extraction, is part of an overall major transformation strategy, dubbed the Veterans Claims Intake Program (“VCIP”), which Exela and its employees have been contributing to since 2012. At its beginning, VCIP sought to solve a backlog of 2 billion records of veterans’ information by re-engineering business processes and introducing digitization to allow for faster and more accurate benefits ratings for our nation’s veterans. Prior to the inception of VCIP, the overall time to rate a veteran’s claim took as long as 356 days in a more manually intensive, paper-based set of steps. Within these objectives laid out by VCIP, Exela deployed its proprietary technology and solutions, which ultimately have resulted in faster accessibility to benefits records as part of the VA’s ratings process. In the end, with new business processes engineered and deployed, the VA OBPI has shrunk the benefits rating time to less than 88 days.

“Southern and Eastern Kentucky truly have the best workforce in the country, and these excellence awards are proof of their productivity and unmatched work ethic,” said Congressman Rogers. “I’m incredibly proud of the individuals who are representing our region with the utmost integrity in their jobs. It’s an honor for our region to host such vital processing on behalf of our military veterans. The growth at the facility in Mt. Vernon is a direct reflection of the ingenuity and capable hands of our local workers.”

“Every year, we ensure that Exela employees receive the proper training and support to attain service excellence,” said Suresh Yannamani, President, Exela. “A consistent and strong program makes good business sense and benefits our employees, customers, and shareholders. We are honored to make this contribution to improving veterans’ benefits, ratings, and their benefits distribution, and we look forward to continued partnership with the VA and OBPI.”

Contact: Jill Ransome, VP Marketing and CommunicationsE: jill.ransome@exelatech.com T: 203-360-4555

About Exela Exela is a location-agnostic global BPA leader combining industry-specific and multi-industry enterprise software and solutions with decades of experience. Our BPA suite of solutions are deployed in banking, healthcare, insurance and other industries to support mission critical environments. Exela is a leader in work flow automation, attended and un-attended cognitive automation, digital mail rooms, print communications, and payment processing with deployments across the globe. Exela partners with customers to improve user experience and quality through operational efficiency. Exela serves over 4,000 customers across more than 50 countries, through a secure, cloud-enabled global delivery model. We are 22,000 employees strong across the Americas, Europe and Asia. Our customer list includes 60% of the Fortune® 100, along with many of the world's largest retail chains, banks, law firms, healthcare insurance payers and providers and telecom companies.

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